Maintenance

If you or your spouse are not able to support yourself through employment or the income you could earn from the assets you retain, you may qualify for maintenance or alimony.  You and your spouse can agree the maintenance amount and duration, or a Judge may order it.

If a Judge is asked to decide this issue, he or she will consider the following factors:

1. The financial resources of the party seeking maintenance, including the marital property apportioned to him and his ability to meet his need independently, including the extent to which a provision for support of a child living with the party includes a sum for that party as custodian;
2. The time necessary to acquire sufficient education or training to enable the party seeking maintenance to find appropriate employment and that party’s future earning capacity;
3. The standard of living established during the marriage;
4. The duration of the marriage;
5. The age, physical and emotional condition of the spouse seeking maintenance; and
6. The ability of the spouse from whom maintenance is sought to meet his needs while meeting those of the spouse seeking maintenance.

Maintenance is a difficult issue because there is no definitive formula or way to assess the appropriate amount and duration.  It is complicated by the fact that, if a Judge orders maintenance, it will be modifiable but, if you and your spouse agree on an appropriate amount, you can design contractual maintenance that ends upon the occurrence of certain events.  The maintenance provisions in your Separation Agreement must be drafted with great care so that you precisely define the type and duration of your particular maintenance agreement

There are tax consequences to your maintenance arrangement.  It is usually deductible to the person who pays it and counts as income to the person who receives it, IF the IRS requirements are met.